|The petrol retail prices were increased by nearly VNĐ1,000 on Friday. — VNA/VNS Photo Hoàng Hải|
HÀ NỘI — The ministries of Industry and Trade and Finance revised petrol prices up as of 3pm on Friday, marking the third consecutive increase so far this year.
The retail price of bio-fuel E5 RON 92 rose by VNĐ988 per litre to VNĐ13,390 (US$0.57) while that of RON 95 increased by VNĐ955 per litre to a level of VNĐ14,080.
The prices of diesel and kerosene were increased by VNĐ766 and VNĐ853 to VNĐ11,515 and VNĐ9,610 per litre, respectively. Meanwhile, the price of mazut was VNĐ830 per litre higher to cap at VNĐ10,322 per kilo.
The two ministries review fuel prices every 15 days to keep domestic prices up to date with the global market.
In the two weeks before June 12, world petrol prices went up by between 21 per cent and 19 per cent.
In the past fortnight, global petrol prices were on the rise at $39.56 a barrel of petrol RON92 and that of RON95 was $42.4 a barrel.
The ministries decided to increase expenditure for the petrol price stabilisation fund by VNĐ100 per litre of E5 RON 92 and VNĐ400 per litre of RON 95.
In the latest adjustment on May 28, the two ministries also increased the prices of E5 bio-fuel and Ron 95 by VNĐ882 and VNĐ890 per litre respectively. — VNS